Valley National Advisers Inc. Sells 6,005 Shares of Lockheed Martin Co. (NYSE:LMT)

Valley National Advisers Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,000 shares of the aerospace company’s stock after selling 6,005 shares during the quarter. Lockheed Martin comprises 1.4% of Valley National Advisers Inc.’s portfolio, making the stock its 12th largest position. Valley National Advisers Inc.’s holdings in Lockheed Martin were worth $7,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pullen Investment Management LLC grew its position in shares of Lockheed Martin by 1.5% during the 3rd quarter. Pullen Investment Management LLC now owns 3,198 shares of the aerospace company’s stock worth $1,869,000 after buying an additional 48 shares during the period. Manchester Financial Inc. acquired a new position in Lockheed Martin during the third quarter valued at approximately $248,000. AllGen Financial Advisors Inc. increased its stake in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Lockheed Martin by 8.7% in the third quarter. GHP Investment Advisors Inc. now owns 4,186 shares of the aerospace company’s stock worth $2,447,000 after purchasing an additional 334 shares during the period. Finally, Boston Trust Walden Corp boosted its position in shares of Lockheed Martin by 0.4% during the third quarter. Boston Trust Walden Corp now owns 24,333 shares of the aerospace company’s stock worth $14,224,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LMT shares. Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Trading Down 0.3 %

Lockheed Martin stock opened at $562.29 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The stock has a 50-day simple moving average of $580.07 and a 200 day simple moving average of $515.08. The stock has a market capitalization of $134.03 billion, a P/E ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. Lockheed Martin’s payout ratio is presently 45.62%.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.